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Biden Urges GOP to Shift Away From ‘Extreme’ Positions

Biden says GOP must move off 'extreme' positions

Biden says GOP must move off ‘extreme’ positions

President Joe Biden has called on Republicans to move away from their “extreme positions” during discussions on raising America’s debt limit. Biden has warned that a catastrophic default could result if no agreement is reached. The U.S. House GOP has refused alternatives proposed by the White House for reducing deficits, demanding sharp spending cuts and work requirements on the Medicaid health-care program. Biden has suggested defense and nondefense spending should remain flat next year to save $90 billion in the 2024 budget year and $1 trillion over 10 years. Biden and House Speaker Kevin McCarthy are expected to hold talks on Sunday.

FAQs:

What is the debt limit?
The debt limit is the total amount of money that the US government is authorized to borrow to meet certain obligations, including its debt service costs, Social Security, Medicare, and military salaries.

What happens if there is no agreement?
If no agreement is reached between Republicans and Democrats, the US could face a potentially catastrophic default on its debt, causing major impacts on financial markets, negatively impacting the economy and raising interest rates on loans.

What are the GOP’s demands?
The GOP has demanded sharp spending cuts, work requirements on the Medicaid health-care program, and cuts to IRS funding. They also want the White House to accept provisions from their proposed immigration overhaul.

What is Biden’s proposal?
Biden suggests keeping defense and nondefense spending flat next year, which would save $90 billion in the 2024 budget year and $1 trillion over 10 years.

What is the deadline?
The U.S. Treasury Department has warned that it could run out of cash as soon as June 1, adding urgency to the negotiations.

Biden says GOP must move off 'extreme' positions
Biden says GOP must move off ‘extreme’ positions

Biden urges GOP to abandon ‘extreme’ positions

President Joe Biden has called on Republicans in the US House to abandon their “extreme positions” in talks over raising the country’s debt limit. Speaking in Hiroshima, Japan, where he was attending the Group of Seven summit, Biden insisted there could be no agreement to avert a catastrophic debt default on their terms alone. Republicans are demanding significant spending cuts, work requirements on healthcare, and restrictions on states that waive jobless work obligations for food aid. Biden agreed to cut spending, but demanded the Republicans move from their “extreme position”. He is due to speak with Kevin McCarthy, Republican speaker of the House, following a trip cut short due to strained negotiations. Biden urged McCarthy to compromise, saying he hoped he was “waiting to negotiate with me when I get home”.

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